The Market Monitor Minding the Nation's Business
As the Iran war rages, authorities have projected that diesel oil is estimated to rise by P19.62 per liter, while gasoline may see an increase of P10.43 per liter, with the announcement of final price movements expected today, March 9.
Based on the full five days of trading for the Mean of Platts Singapore (MOPS), the industry’s regional gauge for prices, kerosene is projected to lead the increases with an unprecedented hike of P24.92 per liter.
Filipinos across the nation are prepared for a shock when these fuel prices reach uncharted territory.
In the first week of March, 2026, gasoline prices in Metro Manila ranged from P53.70 and P76.50 per liter, while motorists bought diesel from P56.80 to P74.81.
If the estimates see the light of day, motorists will have to shell out P86.93 for every liter of gasoline, and for diesel, a whopping P94.43.
Hoarders, profiteers warned
As this developed, President Ferdinand Marcos Jr. on Friday warned businessmen and traders not to take advantage of the continuing tension in the Middle East.
”Nakikiusap ako sa ating mga negosyante at mga traders: huwag ninyo sanang samantalahin ang sitwasyong ito. Pinapaalala ko sa lahat na ang hoarding at profiteering ay labag sa batas,” Marcos said.
Marcos sternly warned that violators will use the full force of the law to punish violators.
In a video message, Marcos assured the public that the government continues to monitor the prices of basic goods in the market as oil prices are expected to soar, which is expected to affect the prices of commodities.
”Kasabay nito, patuloy na mino-monitor ng pamahalaan ang presyo ng mga bilihin sa mga pamilihan upang matiyak na walang mananamantala sa sitwasyon na ito,” Marcos said.
”Nakikiusap ako sa ating mga negosyante at mga traders: huwag ninyo sanang samantalahin ang sitwasyong ito. Pinapaalala ko sa lahat na ang hoarding at profiteering ay labag sa batas,” he added.
Bongbong Marcos assured the public that the government is ready for big-time pump price hikes that are expected in the coming week. He is already talking with Congress to grant him the authority to reduce the excise tax once crude exceeds $80 per barrel.
Meanwhile, Atty. Rino Abad, director of the Department of Energy’s (DOE) Oil Industry Management Bureau, told a radio interview that the “minimum estimates” for next week’s fuel price increases are as follows:
* Diesel — P19.00 per liter
* Gasoline — P9.00 per liter
* Kerosene — P31.00 per liter
These diesel and gasoline prices are higher than earlier estimates, which were P15.33 per liter for diesel and P7.09 per liter for gasoline.
David emphasized that the rates he shared were “minimum” because these have yet to factor in premiums and insurance costs.
He said the Energy Department is still awaiting the decision of individual oil companies with regard to the government’s request for a staggered implementation.
In a press conference earlier this week, the DOE said it would request petroleum firms to stagger the implementation of any pump price starting next week, as per the request of President Bongbong Marcos.